ASX:TOK

2 stories mentioning ASX:TOKUpdated 22d ago

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Tolu Minerals Intersects Two High-Grade Near-Mine Vein Systems at Papua New Guinea Gold Mine, Shares Rise 3%

Tolu Minerals (ASX:TOK) intersected two new high-grade near-mine vein systems at the Tolukuma gold mine in Papua New Guinea, according to a Thursday Australian bourse filing.It encountered returns of 4.67 meters grading 42.76 grams per tonne (g/t) grade of gold at Fundoot, including 1.3 meters at 82.8 g/t grade of gold, confirming a new high-grade hanging wall structure. It also encountered two meters at 16.94 g/t grade of gold, including one meter at 26.49 g/t grade of gold, identifying a new and second mineralized structure at Gulbadi.The firm also said initial face sampling results from new cut ore faces returned "exceptional" grades, including multiple intervals exceeding 31 g/t grade of gold.Its shares rose 3% in recent trading on Thursday.

ASX:TOK

Asia57d ago

Tolu Minerals Issues AU$23.8 Million of Convertible Notes; Secures Diesel for Papua New Guinea Mine

Tolu Minerals (ASX:TOK) has issued about AU$23.8 million worth of convertible notes to Petrosea Services Solutions, according to a Thursday filing with the Australian bourse.Petrosea agreed to subscribe for around 14.6 million new ordinary shares in Tolu at a price of AU$1.625 each via the execution of the convertible notes, per the filing.Additionally, Tolu said it recently secured 600,000 liters of diesel as part of a fuel security strategy to support operations at its Tolukuma gold mine in Papua New Guinea. The company is working to boost diesel reserves at the mine by a further 120,000 liters, with plans to build and maintain an expected 30-day supply reserve at the location.

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